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Jaipuria Institute of Management

Lucknow-Noida-Jaipur-Indore

PGDM Batch 2016-18: Trimester III

Outline & Lesson Plan for faculty

Course Title: International Economics and Business (IEB)


Course Code: ECO301
Syllabi:

I. International market: Key global markets and key players; Opportunity and constraints in
global market; Indias top trade and business partners; Global comparison with the help
of World Development Report, Asian Development Report.
II. International trade and investment: Gains from international trade; Theories of
international trade; Geopolitics; Balance of Payments; Exchange rate systems; FDI in India
and from India; Identifying links between global markets; Trends in Global capital flows.
III. Current trends in international business and economy: Tariff and non-tariff barriers to
trade; International business response to climate change; Impact of Yuan as reserve
currency; Role of WTO; Impact of fall in international crude oil price; Business possibilities
with BRICS & SAARC, Implications of Eurozone crisis and Brexit on India, .

Course Overview

In the twenty first century, countries are more closely linked through trade in goods and services and
through flows of money and investment in each others economies than ever before. Thus, the
progress of a nations economy is linked to the performance of economies of its trading partners. The
less developed countries have continued a decades-long trend toward reducing their restrictions on
international commerce and, increasingly, have removed many other regulatory bottlenecks
restricting the flow of goods and services with rest of the world. Further, the World Trade Organization
has provided a new governance structure to limit and resolve trade disputes. World capital markets
have grown increasingly integrated, providing new funding opportunities for borrowers and making it
relatively easy for lenders to diversify their risks internationally.

Further, in the present globalised world there is a little scope for businesses to avoid influence of
internationalization of the economies of different countries. The intensifying global relationships and
increasing interdependence are the key features of present business order. The international business
thus poses additional challenges for managing trade or investments in foreign countries while offering
new opportunities in foreign markets.

In a multilateral international order, it is imperative that changes at international level will quickly
affect the domestic economy and business. For example, continuous fall in international crude oil
prices, devaluation of Chinese Yuan, Greece sovereign debt crisis and bail out, or Indian oil exploration
for Myanmar and subsequent withdrawal from South China Sea will have implication for domestic
economy and business which requires a lot of fresh adjustment not only for business but also amounts

1 Course Outline & Lesson Plan: International Economics and Business (IEB).
to policy changes on the part of government. It is important that business students understand keep
abreast with these changes and able to analyse its implications for better decision making.

Learning Outcomes (LOs)

After undergoing this course, students will be able to:

1. Illustrate the basis, context and major driving elements of international trade and business
for India. (LO-1)
2. Examine implications of factors like currency fluctuations, Government intervention,
changing dynamics of international bodies, Volatile crude prices and climate conditions
on business (LO-2).
3. Assess the role of global capital flows and foreign direct investments for Indian
Businesses. (LO-3)
4. Elaborate the business opportunities for India in the realm of regional trade blocs,
emerging market trends and different geopolitical contexts (LO-4)

Overview of Course Outline

Session Topic Session objective/LO Reading / References Pedagogy Assessment


I. International Market
1 Introduction to To make students learn *Course Outline to be *Discussion N/A
international about global economic discussed * Case Study
economy and system and *Case Study to exemplify
business; arrangements. the difference
Course Overview Changing between
and nature of domestic and
Allocation of globalization International
seminar groups and Transformation trade
topics from Barter
Trade to
Monetary
mechanism to
Protectionism
to Liberal
trade.
2 Global Key players in To make students learn *Reference material-1. *Class *Mid Term
International about Global Key Discussion (LO 1)
Markets players in International
Markets
3 Indias top Analysis of Indias top *Class Discussion *Class *Mid Term
commodities of business partners and *Web references Discussion *End Term
trade and major also major (LO 1)
trade partners commodities/services
of trade.
II. International Trade and Investment
4-5 Comparative To enable students *Text Book: Chapter 2 * Class *Mid Term
advantage as basis comprehend &3 Discussion *End Term
of international comparative advantage (LO 1)
trade and various as basis of trade and

2 Course Outline & Lesson Plan: International Economics and Business (IEB).
sources of learn about various
comparative sources of comparative
advantage advantage (LO-2)
6 Gains from trade To make students learn *Text Book: Chapter 2 *Class *Mid Term
and terms of trade static and dynamic &3 Discussion *End Term
gains from trade and (LO 1)
calculate terms of trade
(LO-2)
7 Government To contextualize tariff *Text Book: Chapter 4 *Class *Mid Term
intervention i.e. and non- tariff barriers &5 Discussion *End Term
Tariff and non-tariff of trade (LO 1,2)
barriers to trade
8 The Balance of To understand the *Text Book: Chapter 10 *Class *Mid Term
Payments structure current account , *BOP Statements of Discussion *End Term
capital account and India + Few other *Assignment (LO 1,2)
financial accounts in economies on BOP *Assignment
the BOP statement
along with implications Analysis of
of a fully convertible few major
currency for a economies
developing economy like US,
like India Japan, Britain,
Brazil, China
and Other
developing
economies
etc.
9 Exchange Rate To identify different *Text Book: Chapter 12 *Class *Mid Term
Determination factors determining *Web resources, Discussion *End Term
exchange rates and articles (LO 2, 3)
appreciate their inter-
relationships in the
light of various theories
10 Exchange Rate To appreciate various *Text Book: Chapter 15 *Class *Mid Term
Systems exchange rate practices *Web resources, Discussion *End Term
adopted by different articles (LO 2,3)
countries, also to
comprehend the impact
of fixed / floating
exchange rate for an
economy
11 Regional Trading To appreciate the *Text book: Chapter 8 * Class *Mid Term
Arrangements types, benefits and *Reference books Discussion *End Term
implications of regional *Web resources (LO 1, 2,3)
trade agreements citing
examples from various
regional blocs: EU,
SAARC, NAFTA, ASEAN,
TPP (under process)
etc.
12 Review & Exercise To review the learning *Class *Mid Term
so far. Discussion *End Term

3 Course Outline & Lesson Plan: International Economics and Business (IEB).
(LO 1, 2)

*Mid-Term Examination

III. Current Trends in International Business and Economy


13 Business possibilities To explore and analyze *Reference material-2 *SEMINAR by *End Term
in SAARC business opportunities student group (LO 4)
within SAARC region -1 followed by *Seminar
(LO-2, 5). Class *Class
Discussion participation
14 Doing Business with Seminar includes these *Different Web *SEMINAR by *End Term
BRICS countries resources like IMF, WB, student (LO 4)
environmental WTO, OECD etc. and group-2 *Seminar
scanning, major rules major reports on bi followed by *Class
governing trade,
Current composition of lateral, multi lateral Class participation
trade, comparative trade Discussion
advantages in these
nations vis-a-vis India
and any bi-lateral /
multi lateral trade
agreements
Also, the major
agreements by BRICS
should be discussed
including NDB.
15 WTO and its major To be able to evaluate *Reference Material 3 *SEMINAR by *End Term
contributions for the impact of WTO *Web resources, student (LO 2, 4)
developing countries (GATT) and major other *Reference books group-3 *Seminar
with special focus on multi-lateral followed by *Class
India agreements ,WTO- class participation
Objectives, Major discussion
agreements like GATT,
GATS, AoA, TRIPS and
TRIMs and role of
Dispute Settlement
Body
16 Global Capital flows: To analyze global flow * Reference Material - 4 *SEMINAR by *End Term
Overview of FDI in of FDI in the context of *Web resources student (LO 3,4)
and from India FDI in India, FDI policy *Reference Books group-4 *Seminar
of India, examples from followed by *Class
recent past, evaluate class participation
the implications of FDI discussion
Vs. FPI for an economy
17 Open for Faculty to Guest Session *End Term
decide
18 Key Geopolitical To analyze through *Articles from *SEMINAR by *End Term
issues affecting various examples how Economist student (LO 4)
world trade with geo-political issues *Web resources group-6
affect global trade, in followed by

4 Course Outline & Lesson Plan: International Economics and Business (IEB).
special reference to particular issues class
India affecting India discussion
19 Brexit and its To evaluate the *Web resources *SEMINAR by *End Term
implications possible consequences student group (LO -4)
of Brexit on Britain, EU 7
and India
20 International To assess the impact of *Reference material - 7 *SEMINAR by *End Term
dynamics of crude crude oil price on *Web resources student (LO - 2, 4)
oil price private businesses group-8
21 Understanding To create *Reference material - 6 *SEMINAR by *End Term
environmental understanding on student (LO 2, 4)
problems and climate change group-9
climate change
22 Effects of Yuan as a To analyse the *Text Book Chapter *SEMINAR by *End Term
reserve currency implications of 17 student group (LO 2, 4)
changing composition *Web resources 10
of basket of currency
on trade with special
reference to India
23 Currency Crisis: To analyse Eurozone *Text Book Chapter *SEMINAR by *End Term
Meaning and crisis and its 15 student (LO 4)
implications implications for Euro *Web resources group-11
countries and India
24 *End Term

Review & Summing


up

Learning Material

Text Book: Global Economics, Robert J. Carbaugh, Cengage Learning, 13th Edition

Other than this, additional reference material, web resources shall be shared with the students as
mentioned in the outline from time to time. In addition to this, exercise sheets, data set will be
provided as per the requirement of the session as mentioned in the course outline. Students are also
advised to refer different reference books for better and deeper understanding of course.

Reference Books:
1. International Business, Rakesh Mohan Joshi, Oxford Pub.
2. Strategies for the future: Understanding International Business, Ajit N. Mathur, IIM-
Ahmedabad Pub.
3. International Economics: Theory and Practice, Paul R. Krugman, Pearson Pub.

5 Course Outline & Lesson Plan: International Economics and Business (IEB).
Lesson Plan

SUMMARY SHEET
Pedagogical Approach: Combination of faculty-led, student-led, web search & analysis

Learners Previous Students must be familiar with fundamentals of basic equation, graphs, slopes
Knowledge etc. Students need to be familiar with Indian economic environment. Course on
Managerial Economics and Macro Economics and Business Environment is an
essential prerequisite for this course.

A quiz is to be conducted for assessing the level of previous knowledge.

Target Knowledge for Concept: Fundamentals of international economic framework and international
this Course commodity, services, and capital flow.

Inter-disciplinary: How businesses among nations take place? What factors are
adding or hindering the flow of business among nations?

Application: What possibilities Indian businesses hold at the international level?


How Indian business can be globalized?

Programme Levels Learning Goals Taxonomy Level


Simpler Learning Goal (40% weightage): Vital Level 2: Knowledge
To make students aware of international economic framework and international comprehension.
flow of commodity, services, and capital.
Target Learning Goal (40% weightage): Essential Level 3, 4: Knowledge
To enable holistic understanding of the dynamics of international business utilization and
environment and opportunities. integration.
More Complex Learning Goal (20% weightage): Desirable Level 5, 6: Knowledge
To enable students do impact analysis and prediction for global business evaluation, creation.
opportunities.

Assessment Scheme & Guidelines

All assessment tools along with their schedule have been highlighted in the session plan in blue.

1. Discussion Forum: 10 %
2. Seminar Presentation (Team of 5 members): 20 %
3. Class Participation: 10 %
4. Mid Term Hall Examination: 20 %
5. End Term Hall Examination: 40 %
Total: 100 %
1. Discussion Forum:
A minimum of two discussion forums on relevant topics shall be floated by facilitator and
students will have to post their opinions within stipulated time. Non-participation in

6 Course Outline & Lesson Plan: International Economics and Business (IEB).
discussion forum will invite zero marks. Discussion forum will be evaluated for 10 marks
(5 marks each) and will constitute 10% weightage in total marks.

2. Seminars by Student Teams: Students in a team of 5 members shall be assigned the topics in
Session 1. The students are expected to work in teams and carry out an in depth study on the
assigned topic, also backed by relevant data and reports. A detailed guideline for the same
shall be provided team wise by the course facilitator. Time duration for each presentation
shall be between 35 40 minutes depending upon the coverage required in the topic. The last
2530 minutes shall be assigned for question and answers, debate on the topic and final
summarization from the course facilitator. The broader evaluation parameters include: 1.
Coverage of the topic; 2. In depth understanding; 3. Relevant current information, articles,
reports discussed; 4. Team Coordination and Synchronisation; 5. Ability to handle questions.
The weightage assigned to this component is 20%.

Rubrics for Evaluation

Evaluation Parameter Marks Remarks


Coverage of the topic as per the 5
session plan provided above
Relevant Current data and 5 Proper referencing in the
reliability of data Power point has to be stated in
APA style
Contributions by each member 5 Members only contributing in
of the team. terms of Introducing the group
Ability to handle questions can score zero in this
component
Each group in their seminar has
to explicitly state contribution
of each member.
The course Facilitator can
randomly change the ordering
in which each individual will be
presenting in the group.
Innovations in terms of 5 Student Group can think
content, style of presentation beyond the coverage and
content guidelines

3. Class Participation:
A students engagement in class in terms of value addition to the topics, asking relevant
questions, contributing to various discussions, etc. are very important for a focused and
professional development. Accordingly, contribution in all such respects have been assigned
a 10 % weightage amounting to 10 marks. This component can also be assessed based on a
quiz or case analysis of prescribed weightage.

4. Mid Term Hall Examination:

7 Course Outline & Lesson Plan: International Economics and Business (IEB).
This will be announced by Examination Cell on completion of approximately 12 sessions. Mid
Term will be of 1 hour duration comprised of questions based on half course.

5. End Term Hall Examination:


This will be announced by Examination Cell on completion of the course. End Term will be of
2 hours duration comprised of questions based on full course, with more weightage on
second half of course.

8 Course Outline & Lesson Plan: International Economics and Business (IEB).